GM Bondholder Talks Could Extend Beyond Deadline
http://www.foxbusiness.com/story/markets/gm-bondholder-talks-extend-deadline/
In the article there are people talking about keeping General Motors out of bankruptcy could go right down to the deadline. The government is trying to get people who hold bonds to go with the plan that would make the auto maker survive. Someone who is familiar with the GM negotiations says that talks with the bondholders on the Treasury Department's proposal to have a exchange 90% of unsecured GM debt for equity. Obama Administration's June 1st deadline for a restructuring deal even though Tuesday on midnight is the deadline for the exchange offer. People have been saying there has been more constructive conversations with bank holders recently. Bondholders are actually negotiating more as a group and not as individuals is has really helped the process. If the government keeps working together the problem might actually be fix soon or find a resolution sooner. The economy issue really brings interest to me and pulls me in. I want to see how the country is going to bounce back from this recessions like we did previous. i believe what is happening right now i agree with it just because of the fact that the government is actually working together in this time of need. The information has been present so-so but it was still understandable. I always enjoy using this source it is very helpful and puts me closer to the world and what is going on
BY: Tyler Reyes
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Tyler, Some of your summary was unclear, but then again so is this whole deal about who’s giving up what, how much of the company the government and everyone else is going to own. Also, they keep quoting some unnamed “person.” How do we know this person knows anything? Still, I agree that it’s comforting that at least the government is doing something to help.
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